INDIAN ECONOMY

Growth Hit, Market Plunges

(Essential Reading material for Civil Services General Studies Paper- I & II and extremely useful for MBA and other Competitive Examinations, Group Discussion and Interviews.)

The Reserve Bank of India (RBI) on October 10, 2008 announced a surprise one percentage point cut in reserve requirement of commercial banks- Cash Reserve Ratio (CRR) – so as to inject more liquidity into the system. This cut, coupled with the helf a percentage point cut announced on October 6, 2008, would release about Rs. 60,000 crore into the system.India’s industrial production seemed to hit rock bottom on October 10, 2008 , as the economy registered the slowest growth in 14 years . What made the situation worse was the global financial turmoil that sent the Sensex into a nosedive . Also , the fall in the value of rupee compounded the worries ,as the rupee turned out to be the most vulnerable of Asian currencies touching a record low of 49.26 per dollar.The recent developments in India’s economic scenario have clearly signalled the onset of a slowdown bordering on recession. The possibility of an economic recession was further accentuated by the dismal 1.3 percent industrial growth rate which the economy registered in August 2008. It represented a drastic downslide in industrial growth as compared to the 10.7 percent growth logged during the same month in 2007. As markets around the world tumbled amid deepening fears of a global recession , more evidence surfaced which showed that India, too was taking a bigger than expected hit. The impact of the global financial crisis, so far limited to the stock market and a couple of other export- centric businesses, now appears to be cascading into the real economy. It is evident that the ongoing global financial crisis has taken its toll in India as well. The financial turmoil , coupled with the monetary tightening measures put in place to check inflation, contributed in worsening the crisis . Analysis opine that a possible fall in industrial growth has for quite sometime been around the corner in view of the high interest rates and decreasing demand in both domestic and international markets. However , the magnitude of the fall has come as a surprise to many.Meanwhile ,almost all sectors of the economy continued to suffer as the global financial crisis triggered a number of spill-over effects. It included stock markets, rupee value and other such aspects. Sensex tanked by 800 points to 10,527 points on October 10, 2008 , which was the lowest in two years. The rupess touched an all-time low and the inflation rate was at11.8 percent for the week ended September 27, 2008 . The financial situation also markedly affected the fortunes of Indian business conglomerates, as the top five Indian companies suffered huge value erosion. Reliance (Mukesh Ambani) Group’s net worth went down by 49.1 percent ,Anil Ambani-led Bharti Group by 28.4 percent, KP Singh-led DLF Group by 75.3 percent , and Azim Premji-led Wipro Group slid by 46 percent.However to India’s credit, controls on capital flows and banking transactions have relatively insulated the country from the kind of turmoil that financial institutions are facing in the US and elsewhere. The economic slowdown in the US is not an abrupt development . This is basically a credit crisis which stems from skyrocketing expectations of financial services companies that made them overindulge in the risky business of trade in derivatives. Derivatives usually project overstated earning estimates, which , if used as an instrument for gauging returns, may happen to be a fallacious premise . The US financial majors like the Lehman Brothers, now in the dock , banked overmuch on such innovative patterns as trade in Futures & Options . In the long run, the rick factors associated with such ventures caused their failure. As a result , markets around the world took a tumble. India has so far been comparatively immune to the global turmoil because of the fact that the country’s financial and banking set – up revolves around old- world and time- tested principles involving savings deposits, mutual funds, equity shares and the likes. These instruments have a lower risk of inducing across the board failures and that is why Indian economy appears relatively safe as of now. However , there is concern at the highest level that though the US meltdown has not had a substantial impact in India, a prolonged crisis may take is toll on our economy as well. Globalisation has interlinked all nations and economies to the extent that no single country can sustain immunity for long in the wake of a global crisis . In some sectors such as IT and in the overall corporate scenario , the impact of the turmoil is already visible. Experts are unanimous in their opinion that if such a situation continued for long , it will be foolish to expect that India will remain insulated in the long run. Referring to emergency liquidity injection by central banks around the world , Union Finance Minister Mr. P. Chidambaram said that India would also take the necessary steps to bring the situation under control. He added "We will take steps to infuse liquidity because we recognize that flow of credit efficiently and smoothly through the system is vital to the stability of the financial system".

BOTANY

PAPER-I

1. Microbiology and Plant Pathology- Viruses, bacteria , and plasmids – structure and reproduction . General account of infection, Phytoimmunology . Applications of microbiology in agriculture , industry, medicine and pollution control in air , soil and water.Important plant diseases caused by viruses , bacteria , mycoplasma , fungi and nematodes . Mode of infection and dissemination . Molecular basis of infection and disdase reshstance/ defdnce. Phxsiology of pararitirm and cnntrol measures. Fungal toxins.2. Cryptogams – Algae, Fungi , Bryophytes, Pteridophytes- structure and reproduction from evolutionary viewpoint . Distribution of Cryptogams in India and their economics potential.

3. Phanerogams : Gymnosperms- Concept of Progymonosperms. Classification and distribution of Gymnosperms . Salient features of Cycadales, Conferrals and Gnetales, their structures and reproduction . General account of Cycadofilicales , Bennettitales and cordaitales.

Angiosperms- Systematics , anatomy , embryology, palynology and phylogeny

Comparative account of various systems of Angiosperm classification . Study of angiospermic families – Magnoliaceae, Ranunculaceae, Brassicaceae (Cruciferae), Rosaceae, Leguminosae, Euphorbiaceae, Malvaceae, Dipterocarpaceae, Apiaceae (Umbelliferae), Asclepiadaceae, Verbenaceae, Solanaceae, Rubiaceae, Cucurbitaceae, Asteraceae (Composite) , Poaceae (Gramineae) , Arecaceae (Palmae) Liliaceae, Musaceae, Orchidaceae

Stomata and their types Anomalous secondary growth, Anatomy of C 3 and C 4 plants.

Development of male and female gametophytes, pollination, fertilization. Endosperm its development and function, Patterns of embryo development. Polymbryony, apoxmix ,Applications of palynology.

4. Plant Utility and Exploitation – Origin of cultivated plants, Vavilov’s centres of Origin. Plants as sources for food , fodder, fibres, spices, beverages, drugs, narcotics , insecticides, timber , gums, resins and dyes.

Latex, cellulose Starch and their products. Perfumery. Importance of Ethnobotany in Indian context.Energy plantation. Botanical Gardens and Herbaria.

5. Morphogenesis–Totipotency ,polarity, symmetry and differentiation, Cell, tissue, organ and protoplast culture. Somatic hybrids and Cybrids.

PAPER- II

1. Cell Biology – Techniques of Cell Biology . Prokaryotic and eukaryotic cells structural and ultrastructural details. Structure and ftncthon nf extrabelltlar matrix nf EBM (bell wall) and mdmbr`nes- cell adhesion , membrane transport and vesicular transport .Structure and function of cell organelles (chloroplasts , mitochondria, ER, ribosomes, endosomes, lysosomes, peroxisomes, hydrogenosome). Nucleus, nucleolus nuclear pore complex . Chromatin and nucleosome. Cell signaling and cell receptors. Signal transduction (G-1 proteins , etc). Mitosis and meisolosis; molecular basis of cell cycle . Numerical and structural variations in chromosomes and their significance. Study of polytene , lampbrush and B- chromosomes- structure , behaviour and significance.

2. Genetics , Molecular Biology and Evolution – Development of genetics , and gene versus allele concepts (Pseudoalleles). Quantitative genetics and multiple factors. Linakage and crossing over- methods of gene mapping including molecular maps (idea of mapping function). Sex chromosomes and sex linked inheritance, sex determination and molecular basis of sex differentiation . Mutation (biochemical and molecular basis). Cytoplasmic inheritance and cytoplasmic genes (including genetics of male sterility). Prions and prion hypothesis. Structure and synthesis of nucleic acids and proteins .Genetic code and regulation of gene expression. Multigene families . Organic evolution – evidences, mechanism and theories . Role of RNA in origin and evolution.

3. Plant Breeding , Biotechnology and Biostatistics- Methods of plant breeding- Introduction , selection and hybridization (Pedigree, backcross, mass selection , bulk method.) Male sterility and heterosis breeding . Use of apomixes in plant breeding . Micropropagation and genetic engineering – methods of transfer of genes and transgenic crops; development and use of molecular markers in plant breeding .Standard deviation and coefficient of variation (CV) . Tests of significance (Z – test, t- test and chi- square tests). Probability and distributions (normal, binomial and poisson distributions). Correlation and regression.

4. Physiology and Biochemistry- Water relations , Mindral nutritinn and ion transport , mhneral deficiencies . Photosynthesis- Photochemical reactions , photophosphorylation and carbon pathways including C pathway (photorespiration), C.C and CAM pathways . Respiration (anaerobic and aerobic, including fermentation – electron transport chain and oxidative phosphorylation . Chemiosmotic theory and ATP synthesis. Nitrogen fixation and nitrogen metabolism. Enzymes, coenzymes , energy transfer and energy conservation . Importance of secondary metabolites . Pigments as photoreceptors (plastidial pigments and phytochrome). Photoperiodism and flowering . vernalization, senescence. Growth substances – their chemical nature , role and applications in agri- horticulture, growth indices, growth movements . Stress physiology (heat, water, salinity , metal). Fruit and seed physiology. Dormancy , storage and germination of seed . Fruit ripening – it s molecular basis and manipulation.

5. Ecology and Plant Geography- Ecological factors. Concepts and dynamics of community . Plant succession . Concept of biosphere. Ecosystems and their conservation . Pollution and its control (including phytoremediation ).Forest types of India – Afforestation, deforestation and social forestry. Endangered plants , endemism and Red Data Books. Biodiversity . Convention of Biological Diversity, Sovereign Rights and Intellectual Property Rights. Biogeochemical cycles . Global warming.

How To Make Successful Decisions

Decisive Decision- Making : How To Know When You’ve Made Up Your Mind
How You can appear decisive
Even if one cannot actually decide once and for all whether to stay in a certain profession or not , there are a number of simple principles one could follow to ensure that one appears decisive.
Mentioning any one decision frequently , over a long period , always in the same terms , soon leads people to belheve you to be indechsivd . Never sax ‘I can’t ddcidd’. Ray ‘I haven’t decided yet’. Better still , say ‘Ask me next week/ month./ term. I shall decide this weekend / at the end of the month/ in the holidays’. Statements like these give the impression you are working to a plan, rather than aimlessly pondering .
One should not discuss his decision with everyone he knows. This is a mistake. Reserve serious discussions about a decision for people who can truly help you to make the right decision .Ask people only those questions they can reasonably be expected to answer informatively.
After taking someone’s advice, you should not go over the same ground again with other people . Not only will this kind of behaviour make you appear indecisive, it will also annoy the person whose advice you first took. Unless you make it clear that their advice has contributed to your understanding and moved you on to the next stage of decision – making , they will feel their advice has been discarded .Don’t ask the some questions over and over again , and if you must go over exactly the same points with more than one person , do it discreety.
If you know you have not made up your mind yet, don’t allow people to take action as if you had . Be clear and honest, Say ‘Don’t do anything about this yet –I will let you know when I’ve finally decided’. People understand that some decisions take a long time to make . What they object to is not so much waiting as being led up the garden path.
There is no need to go public on a decision prematurely . People are nearly always less interested in the details of your life than you imagine them to be .Tell those who need to know when they need to know .Tell those who are interested when they ask.
Discriminate explicitly between more and less serious decisions. If you treat deciding whether to paint the living – room green or blue with the same weight as deciding whether to move house you will quickly acquire the reputation of a ditherer. Sometimes, make a point of deciding a fairly trivial matter nn the spur nf the mnment . @t other timds, ray that a particular decision is going to need thinking about . This will give people the impression that you only spend time on a decision when it is necessary and not as a result of some character flaw.
Very the confidence with which you announce your decision . If you always claim your decision to be definitely right, you will be discounted , quite rightly, as arrogant .If you always qualify your decision with ‘I” m not sure if this is the right things but …….. then you will certainly not be seen as decisive .When not, admit to some doubts , but make it clear that your decision is based on your best understanding and that it needed to be made. Tell people the time – limits attached to particular decisions if there are any. If you have planned to review a decision after two years, when you do so you will be seen as organized, not dithering.
If you relay need to change your mind, try to represent the change as progress, rather than a simple U- turn .Say ‘I’ve just thought of a slightly better way to tackle this ‘ or ‘Let’s not only do such – and – such but also so- and –so’. Let a little time elapse before you reverse a decision , and then say ‘I’ve been thinking about things. We didn’t consider something important and it sheds a new light on things.’ Even with this approach, you must stick to a decision once made much more often than you reverse one.
It can be better to make a possibly bad decision decisively and move on rather than spend lots of time debating it. People’s memories are short , and provided you do actually move on and don’t spend time on postmortems and regrets you will usually carry them with you.
Finally, if you are sure you have made a bad mistake, don’t sacrifice your happiness or security just for the sake of appearing decisive. All other things being equal , to appear decisive is a good thing, but if you’ve left home and heartily wish you hadn’t if you’ve given up work to look after your children and it’s driving you crazy , or if you’ve bookdd a holhday you knov yot won’t dnjox , them othdr consideration than how decisive you appear are paramount. People who acknowledge they have made mistakes are respected. It’s just that people who make too many are suspected of bad management.
The two keys to true decisiveness
To return now to the reality from the appearance, there are two qualities you need to cultivate in order to become truly decisive. The first is imagination .The second is discipline . Lots of people have one or the other of these , but both are required for effective decision – making.
You use your imagination to understand as fully as you can how your decision might work out in practice . The mother of a two – year old who is contemplating moving to the country must imagine what her decision will mean when her child is of school age, and when he is a thoroughly sociable teenager. The confirmed bachelor contemplating marriage will need all his resources of imagination and more , to foresee how every detail of his life will change . In all decision , the more imaginatively you can approach them , the more able you will be to make a decision you can stick to in the future.
Discipline is what you need to progress from early uncertainty to a point where you know what to do. You will face up to and assess the implications your imagination has enabled you to identify You will stop when the deadline arrives. You will plan who to talk to and when.
Of course , much of this series of articles up to now has been concerned with practical ways you can cultivate both imagination and discipline in your decision – making. For it is not easy to be decisive. In a world of uncertainty, where at any time something totally unexpected may, happen it is one of the most difficult qualities to achieve.

MAT EXAM ( MANAGMENT APTITUDE TEST )

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